EXPORTING MONEY WITH BITCOIN
The reason why at least I’m an advocate of Bitcoin is because it’s a gateway to privacy without trying to bargain with our legislators. The terms “laundering” and “smuggling” are misnomers and only used to promote drama in the subject. These activities are illegal but what’s interesting is that the “system” from which we want and need privacy considers any privacy you want to be the result of laundering or smuggling money. We have rights to privacy, and these rights are absolute, they existed before any government, they exist because we are people and have a conscience, and we are beings of reason.
Taking back your privacy is a vote for privacy and liberty and freedom and it’s a vote against a government system that has lost its way and has become a monstrosity instead of a protector of our rights. We have to protect our own rights.
In July, we will witness a change in the way Bitcoin is priced because of a change in the mining rewards.
In the Bitcoin network, user transactions are grouped in blocks and recorded to a digital public ledger called a blockchain. Miners are in charge of this task, and receive a mining reward in the form of bitcoins for each block recorded.
The amount of bitcoins rewarded for each block decreases with time: it is halved every 4 years. This event, the moment when the mining reward is divided by 2, is commonly called “Bitcoin halving”. Other denominations are used: “reward drop”, “reward halving”, or simply “the halving” or “the Halvening” which is a popular meme among bitcoiners.
When Bitcoin was created in 2009, the initial reward was 50 bitcoins. In November 2012, it dropped to 25btc after the first halving. The second halving will take place in July 2016, decreasing the reward to 12.5btc
Visit this website for more information, http://www.thehalvening.com/
This is a very simple technique for moving money to foreign jurisdictions. When you have precious metals in your possession and you want to move them out of the country, for example, you can exchange them for Bitcoins in the originating jurisdiction and then use those Bitcoins without minutes to buy an equivalent amount of precious metals in your foreign vault service.
Elemetal Vault services works with Provident Metals to provide a vault storage service for people who want to store precious metals in a third party vault service. I see no indication that you can exchange your precious metals for Bitcoin but I think it would be very easy to arrange, especially because Provident Metals accepts Bitcoin.
There are other services of course, but I have to explain the details about Bullion Star.
Bullion in Singapore
Singapore is simply the best country in the world to buy and store bullion.
Singapore is the free-trade capital of the world and has a solid reputation in terms of property rights protection and ease of doing business. These conditions together with below mentioned advantages makes Singapore the ideal location for storing precious metals.
Tax-Free – There is no tax for bullion whatsoever in Singapore. No GST/VAT/Sales tax and no capital gains tax.
No Reporting Requirements – There are no domestic or international reporting requirements for buying, selling or storing gold in Singapore. No permits are necessary to import or export investment precious metals.
Cash Allowed – Cash makes sense. There is no counter party risk involved for cash and carry. If you settle in cash, you don’t have to place any trust in anyone. You get the bullion, we get the cash.
Safety & Security – The crime rate in Singapore is among the lowest in the world. Violent crime is almost unheard of. There’s a strong rule of law in Singapore. You can take physical possession and walk out with your precious metals without any problem.
Property Ownership Rights – Singapore is politically stable with strong property ownership rights protection.
Business Climate – Singapore consistently ranks top three globally in business climate reports measuring how easy and straightforward it is to conduct business in different countries.
Laws and Regulations – While governments in the EU and the USA try to curb investments into precious metals by introducing legislation that makes it difficult to purchase precious metals, the government of Singapore is dedicated to transform Singapore into a trading hub for precious metals. The Singaporean government encourages bullion dealers and refineries to set up their business in Singapore with the objective of increasing Singapore’s share of the global gold market from the present 2 % of global gold trade to 10 % by 2020.
Independence from the EU & USA – Singapore has no jurisdictional ties to the US or any country in Europe. Singapore is proud of its independence. BullionStar.com is just one vault service that you will want to research for this country.
Any Bitcoins stored online will be vulnerable to hackers and security compromises and any online wallet provider who claims that its wallets are 100% hackproof is simply lying. Hackers are smart, technologically advanced, proficient and fiercely determined. Inputs.io was recently hacked for over 6400 bitcoins, and BitFloor was put out of business by hackers. However, hackers cannot steal Bitcoins that are stored offline in ‘cold storage’ encrypted containers.
I’m not promoting bitkee.com specifically, but I really do like the product and my research indicates that it is a reliable tool that will get you the protection and security you want with your Bitcoins. There are competing services and you will discover them with your research.
A paper wallet is a mechanism for storing bitcoins offline as a physical document. It can have all the necessary information to send and receive bitcoins without relying on a computer for storage and use.
You can use www.bitaddress.org or www.bitcoinpaperwallet.com to generate your own private paper wallet address and use these wallets to store your bitcoin on a paper document in a safe or other secure location.
Paper wallets are typically created by printing a newly generated public key and private key onto paper. When good security practices are followed paper wallets are one of the safest ways to store bitcoins physically and offline.
A bitkee is durable, fireproof, waterproof, corrosion resistant and invulnerable to software and hardware crashes. Specific precautions are taken to eliminate security risks when printing a bitkee. These wallets are produced in a Faraday cage, with very strict hard-drive destruction and security protocols. An example of a Faraday cage is your microwave, it will nearly block all frequencies to electronic devices, it’s not perfect and you can make your own with a greater degree of security, but this is a good example. Other examples include copper mesh wallets for your credit cards.
One other way to store Bitcoin and any other data is on a device such as a USB Drive or an SD card that has its own operating system installed. You would be able to keep this device on your key chain for example and “boot to it” on any computer and operate from it as if it’s your own computer using someone else’s monitor, mother board and keyboard, You will want to look into installing the free version of the Tails operating system or Linux on your USB Drive or SD card for this purpose.
The ability to buy large volumes of Bitcoin at one time is limited with most of the exchanges; however, https://darklaunder.com/ is one of those services that allow you to buy an unlimited amount of Bitcoins each day. This is a Bitcoin “tumbler” or “mixer”.
Once you get your volumes of money into Bitcoin, you can then free to use more services to increase your privacy. Here are some examples.
One of the main benefits of Bitcoin is the safety of its transactions. It is not regulated or managed by any government or banking institution; it is impossible to do so thanks to the nature of its design. Bitcoin is a completely secure and easy means of transferring money throughout the world. It is also very cheap to perform international payments with Bitcoin as credit cards charge commissions for every transaction that takes place.
You will want to do further research using these key phrases: “Dark Wallet” and “Dark Launder” along with https://www.darkwallet.is/.
Darkwallet is a community of projects developing a wallet with privacy, scalability and integrity. We see Bitcoin fundamentally as a new tool of business and trade in the free economy, more than a mere payments innovation.
The Darkwallet is our first step into a series of products that will touch upon tools for markets, governance and organization. These are tools we need for our own communities, where we aim to create self-managed spaces.
You will also want to review http://samouraiwallet.com/
Using Bitcoin Casinos To Launder Bitcoin
Bitcoin casinos essentially “clean” coins and you don’t even need to put in much effort. You can deposit “dirty” coins, play for a bit, withdraw your coins from the casinos, and voila! You’ve received bitcoins that have been transferred several times.
Laundering bitcoin works and using bitcoin casinos to do that is only one of the many ways to launder. If you do it correctly, there isn’t much anyone do about it. It will always be a game of cat and mouse.
Here is a rating schedule of different Bitcoin casinos: https://bitcoincasinos.reviews/